Vivendi Nabs EMI for $1.9B, Getting Rights to the Beatles, Snoop Dogg

Vivendi has signed a definitive agreement with Citigroup to purchase EMI's music division for $1.9 billion (1.2 billion pounds), the company said Friday.

The British music company is home to the libraries of such music greats as the Beatles, Pink Floyd, Katy Perry and Snoop Dogg. It as been on the auction block since Citigroup foreclosed on Terra Firma Capital Partners in February.

“We are very proud to welcome EMI into the Vivendi family," Jean-Bernard Lévy, CEO of Vivendi, said in a statement. "We all respect the labels within EMI as well as the artists and employees who contribute to its success. They will find within our Group a safe, long term home, headquartered in Europe.”

The deal is wrapping up as Sony is reportedly close to buying EMI's publishing division for $2.2 billion.